Search results for

Koninklijke Ahold has supplied demand for last minute Christmas shoppers. But once again the Dutch supermarket chain has had difficulty funding itself beyond the six-months part of the curve. The $50 million FRN matures March 21 2001 and is its fifth trade with a tenor of less than six-months since it made its debut in May this year. Goldman Sachs was the bookrunner. The issue date is December 21 2000. Klaas Springer, Ahold's treasurer, says that it is its last trade of the year. "We're finished. Or at least I hope we are finished," he says.

Emerging market investors are waiting anxiously for a possible dual statement on Monday on an IMF-led rescue package, and on the first of an expected series of bond swaps by the Argentine government. Argentina announced on Wednesday its intention to swap short dated debt into new, longer bonds.

Allmerica Global Funding proved that not all the gic issuers have started their Christmas holidays. Allmerica returned to the dollar sector for the first time since August with a three-year $25 million FRN that is issued on January 8 2001. Dollar has in fact only ranked fourth in a poll of Allmerica's favourite currencies this year. Euro was top, with $338.24 million-worth of debt, yen was second, with $115.99 million-worth of debt, sterling was third with $44.18 million-worth.

UBS Warburg used an audacious new structure to raise Eu2bn for Allianz this week, after investors responded enthusiastically to an instrument with returns linked to the Dax index. The notes are exchangeable for shares, but were bought by investors outside the traditional range of convertible investors, bringing into question whether they should be classified as exchangeable bonds.

UBS Warburg used an audacious new structure to raise Eu2bn for Allianz this week, after investors responded enthusiastically to an instrument with returns linked to the Dax index. The notes are exchangeable for shares, but were bought by investors outside the traditional range of convertible investors, bringing into question whether they should be classified as exchangeable bonds.

Asia * RAMS Mortgage Corporation Ltd Series 9

China BA Asia has launched a $200m 364 day standby LC for COSCO (Cayman) Co. The deal is guaranteed by parent company China Ocean Shipping (Group) Co.